Property wholesale contracts and earnest money questions!

[Account Closed]

Hey, I learned recently that people need to give earnest money to buyers to close a wholesale contract deal for properties. Is it possible for me to assign contracts where I don't have to pay earnest money to the seller? Let me know.

[Parker Palmieri]

Hey Kerem,

I've heard it be done before or with small amounts of earnest money, but it's rare and I've been told it's not proper to wholesale with no EMD.

I JV with wholesalers to fund EMD or double closes all the time if they have capital tied up. I'd be happy to help you if you ever have a deal, let me know!